This is the new MLex platform. Existing customers should continue to use the existing MLex platform until migrated.
For any queries, please contact Customer Services or your Account Manager. Dismiss

Mulvaney turns down funding opportunity for CFPB

( January 18, 2018, 18:53 GMT | Official Statement) -- MLex Summary: Mick Mulvaney, interim head of the US Consumer Financial Protection Bureau, requested zero funds to be transferred to the agency for the second quarter – the third pull-back in as many days on pro-consumer activity. He said that, while projected quarterly expenses are $145 million, the bureau has a $177 million balance in a protection fund for possible financial contingencies. “I see no practical reason for such a large reserve,” he said. The CFPB director is required by law to determine quarterly sums “reasonably necessary to carry out the authorities of the bureau,” and the US Federal Reserve is required to make that fund transfer.See document below....

Prepare for tomorrow’s regulatory change, today

MLex identifies risk to business wherever it emerges, with specialist reporters across the globe providing exclusive news and deep-dive analysis on the proposals, probes, enforcement actions and rulings that matter to your organization and clients, now and in the longer term.


Know what others in the room don’t, with features including:

  • Daily newsletters for Antitrust, M&A, Trade, Data Privacy & Security, Technology, AI and more
  • Custom alerts on specific filters including geographies, industries, topics and companies to suit your practice needs
  • Predictive analysis from expert journalists across North America, the UK and Europe, Latin America and Asia-Pacific
  • Curated case files bringing together news, analysis and source documents in a single timeline

Experience MLex today with a 14-day free trial.

Start Free Trial

Already a subscriber? Click here to login

Documents

Related Sections